What are the benefits of giving?

Last Updated on Tuesday, 10 September 2013 15:13

We make a living by what we get, but we make a life by what we give. –Winston Churchill

From a community perspective, donations contribute to the overall enhancement of the community. For example, from its 1988 inception to completion in 2006, the Pullman Downtown Riverwalk, spearheaded by the Pullman Civic Trust, inspired $400,147 in donations from 273 individuals, couples, families and businesses as well as funds from state and local government for a total of 1.05 million.

Donations of all kinds, including volunteer service, help to keep taxes low. Police, fire, library, recreation and parks volunteers help to reduce overtime costs and the need for increased staffing. Dollar donations hold down expenditures for park expansions, library book acquisitions, etc. Contributors may be able to reduce their federal income taxes. To ensure that you are in compliance with the most recent tax laws, you should check with a tax consultant with respect to this possibility.